Handling pricing and delay objections
Handling pricing and delay objections
1.Understand it
2.Soften it by agreement
3.Overcome or Outweigh it
Understanding Objections
-Listen to it carefully, and don't interrupt.
-Repeat it back in our own words "So what you're saying is...."
-Dig below the surface. Let's take the pricing objection example: "So what you're saying that you feel our price is too high, is that right? Could I ask you, exactly what do you mean when you say our price is too high?" It could mean:
--It's more than they expected
--It's above their budget
--They have a lower price from someone else.
--They are using a negotiation tactic.
--They are not the decision maker.
--They need to find out more to sell it within their own business.
Can you see why we need to dig under the surface? Whatever we do, we NEVER ask "What have we got to do to get your business" That just invites them to throw a really low price at us.
Softening Objections
-"That's a good point, I'm glad you raised that"
-"I can see why you think that"
-"I used to think the same way myself"
Overcoming Objections
-Distinguish between the price and the cost. The cheapest option is rarely the best value.
-Set the objection aside: "How do you feel about what we've offered APART FROM the price?"
-Turn the objection into a close: "So what you're saying is, that if we could sort out the pricing issue you would prepare to use us. Is that right?"
Feel-Felt-Found
"I understand how you FEEL.Many of our existing customers once FELT eaxactly the same as you do, but what they have FOUND is that working with us has brought them benefit 1 and benefit 2......"and so on.
The Delay Objection.
Normally expressed as "Leave it with me, I'd like to think about it" or something similar.
"I agree that you should think about it, However, in our experience, when somebody says they would like to think about something, it normally means they are unsure on one or two points, would you agree?"
If they answer "yes", take responsibility for any lack of communication, and re-enter the sale.
Handling pricing and delay objections - To learn more about this author, visit Bob Hazell's Website.
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To handle objections properly we need to do three things:
1.Understand it
2.Soften it by agreement
3.Overcome or Outweigh it
Understanding Objections
-Listen to it carefully, and don't interrupt.
-Repeat it back in our own words "So what you're saying is...."
-Dig below the surface. Let's take the pricing objection example: "So what you're saying that you feel our price is too high, is that right? Could I ask you, exactly what do you mean when you say our price is too high?" It could mean:
--It's more than they expected
--It's above their budget
--They have a lower price from someone else.
--They are using a negotiation tactic.
--They are not the decision maker.
--They need to find out more to sell it within their own business.
Can you see why we need to dig under the surface? Whatever we do, we NEVER ask "What have we got to do to get your business" That just invites them to throw a really low price at us.
Softening Objections
-"That's a good point, I'm glad you raised that"
-"I can see why you think that"
-"I used to think the same way myself"
Overcoming Objections
-Distinguish between the price and the cost. The cheapest option is rarely the best value.
-Set the objection aside: "How do you feel about what we've offered APART FROM the price?"
-Turn the objection into a close: "So what you're saying is, that if we could sort out the pricing issue you would prepare to use us. Is that right?"
Feel-Felt-Found
"I understand how you FEEL.Many of our existing customers once FELT eaxactly the same as you do, but what they have FOUND is that working with us has brought them benefit 1 and benefit 2......"and so on.
The Delay Objection.
Normally expressed as "Leave it with me, I'd like to think about it" or something similar.
"I agree that you should think about it, However, in our experience, when somebody says they would like to think about something, it normally means they are unsure on one or two points, would you agree?"
If they answer "yes", take responsibility for any lack of communication, and re-enter the sale.
Handling pricing and delay objections - To learn more about this author, visit Bob Hazell's Website.
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